Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
The wolf, which has already killed 10 people including nine children, was not heard attacking on
India beat Sri Lanka by 62 runs in the first T20 International to take a 1-0 lead in the three-ma
Delhi's New Excise Policy (Delhi Excise Policy 2021-22) The CBI investigation in the scam case ha
Due to Prayagraj Maha Kumbh, the number of devotees in Ram Mandir has increased three times. Sinc
11 people died in Aligarh due to drinking spurious liquor, many others seriously ill
Aligarh: 11 people died and many others were seriously ill due to alleged fake liquor purchased f
Australian opener Usman Khawaja's condition is similar to that of Indian captain Rohit Sharma at
In the second ODI played in Visakhapatnam, the Australian team created history by defeating the I
IND vs PAK: Whether Pakistan will come to India to play World Cup or not, the new PCB chief reacted
Since October till now, the tussle between BCCI and PCB is not taking its name. After the stateme
Finance Minister Nirmala Sitharaman has invited global investors to be a part of India's growth s
Wednesday morning brought some relief news in Delhi. The Air Quality Index has come down slightly
